05/10/2023 - Agenda
City of Tigard | 13125 SW Hall Blvd., Tigard, OR 97223 | 503-639-4171 | www.tigard-or.gov | Page 1 of 2
City of Tigard
Town Center Advisory Commission Agenda
MEETING DATE/TIME: May 10, 2023 – 6:00 to 7:45 p.m.
REMOTE MEETING INFORMATION:
MS Teams: https://www.tigard-or.gov/home/showpublisheddocument/1949/637770827974830260
1. CALL TO ORDER Tom 6:00
2. CONSIDER MINUTES Tom 6:05
3. CALL FOR NON-AGENDA ITEMS Tom 6:10
4. PUBLIC COMMENT Tom 6:15
5. FOLLOW UP FROM PREVIOUS MEETING Tom 6:20
6. RED ROCK CREEK ALIGNMENT STUDY Gary Pagenstecher 6:25
7. DOWNTOWN PARKING Sean 6:45
8. DOWNTOWN REIMAGINED BRIEFING Sean 6:55
9. TCDA BUDGET UPDATE Sean 7:00
10. PROJECT UPDATES Sean 7:05
11. DISCUSS POTENTIAL TOUR OF TIGARD TRIANGLE Sean 7:15
12. APPOINT NEW IMPROVEMENT GRANT COMMITTEE REP Tom 7:20
13. LIAISON REPORTS All 7:25
14. NON-AGENDA ITEMS All 7:40
15. ADJOURN BUSINESS MEETING Chair 7:45
*EXECUTIVE SESSION: The Town Center Advisory Commission may go into Executive Session to discuss real property
transaction negotiations under ORS 192.660(2) (e). All discussions are confidential and those present may disclose nothing from the
Session. Representatives of the news media are allowed to attend Executive Sessions, as provided by ORS 192.660(4), but must not
disclose any information discussed. No Executive Session may be held for the purpose of taking any final action or making any final
decision. Executive Sessions are closed to the public.
Upcoming meetings of note:
Mon., May 8, 6:00 p.m., TCDA Budget Committee
Tues., May 16, 6:30 p.m., Council parking meeting
Tues., May 23, 6:30 p.m., TCDA Board
Wed., June 14, 6:00 p.m., Regular TCAC Meeting
Related websites and information:
Tigard TIF Districts
Tigard Construction Updates
TOWN CENTER ADVISORY COMMISSION AGENDA
City of Tigard | 13125 SW Hall Blvd., Tigard, OR 97223 | 503-639-4171 | www.tigard-or.gov | Page 2 of 2
The City of Tigard tries to make all reasonable modifications to ensure that people with disabilities have an equal
opportunity to participate equally in all city meetings.
Upon request, the city will do its best to arrange for the following services/equipment:
• Assistive listening devices.
• Qualified sign language interpreters.
• Qualified bilingual interpreters.
Because the city may need to hire outside service providers or arrange for specialized equipment, those requesting
services/equipment should do so as far in advance as possible, but no later than 3 city work days prior to the meeting.
To make a request, call 503-718-2481 (voice) or 503-684-2772 (TDD- Telecommunications Devices for the Deaf).
Page 1 of 2
CITY OF TIGARD
TOWN CENTER ADVISORY COMMISSION
Meeting Minutes
April 12, 2023
Members Present: Travis Diskin, Scott Hancock, Renette Hier, Tom Murphy (Chair), Elise Shearer, Bob
Tomasovic, Gabe Velasquez, Justin Watson (Ex Officio), and Derrick Wright.
Members Absent: Adrian Hinckley (Vice Chair), Mandy Sharp, and Chris Sjolin.
Staff Present: Redevelopment Project Manager Sean Farrelly, and Sr. Administrative Specialist Joe Patton.
Others Present: TCAC Council Liaison Council President Yi-Kang Hu and Alternate Liaison Councilor
Jeanette Shaw.
1. CALL TO ORDER
Chair Murphy called the meeting to order at 6:00 pm. The meeting was held on MS Teams.
2. CONSIDER MINUTES
The March 8, 2023, TCAC Minutes were unanimously approved.
3. CALL FOR NON-AGENDA ITEMS
Elise had an item.
4. PUBLIC COMMENT – N/A
5. FOLLOW UP FROM PREVIOUS MEETINGS – N/A
6. DISCUSS GOAL KPI’S
Mandy was unable to attend the meeting and is a key part of the discussion. It was unanimously agreed to
defer this topic to the May meeting.
7. 1ST QUARTER TCAC ACCOMPLISHMENTS
Sean briefly reviewed the TCAC goals update included with the Agenda. Travis will attend the next TDA
meeting and report back next month. Tom noted that a member of TCAC has attended all of the 2023
CHART meetings and that two members attended the CPAH forum on houslessness on March 8, 2023.
Sean will add the items and will send out the draft updates via email prior to inclusion with the Agenda to
ensure all items are captured. Derrick suggested a survey for entities TCAC liaisons with to gauge how they
felt the relationship worked which would also provide insight to new Commissioners. Tom said a further
discussion on timing and composition will occur at a future meeting.
8. DOWNTOWN PARKING
Sean gave a brief presentation on the parking study including the timeline, review of the 2021 parking study,
results of online parking survey, and the next steps. Most of the available downtown off-street parking
spaces are privately owned. The results showed overall utilization was down compared to the 2015 study,
but since the study occurred in September 2021 the effects of COVID-19 could have affected the results.
Weekend utilization was higher than weekday. A new parking study will take place this year.
The online parking survey resulted in 487 valid responses from visitors, downtown residents, and downtown
employees/employers. A memo and the survey results were included in the packet. Most respondents drive
but there was a higher than the Tigard average percentage of biking and walking as the primary mode.
TOWN CENTER ADVISORY COMMISSION
April 12, 2023
Page 2 of 2
Amenities all three categories of respondents noted they would like to see are restaurants/bars and off-street
parking. Potential parking changes may include parking time limits along Burnham, implementation of a
downtown parking permit system, increased parking enforcement, and actively encouraging shared private
parking agreements. A steering committee will be re-engaged to recommend changes and public engagement
will occur thereafter to communicate the new changes. Derrick suggested using TIF funding to purchase
equipment to be used by owners of off-street parking lots to charge for use of their underutilized spots.
9. DOWNTOWN REIMAGINED BRIEFING
Sean gave a brief presentation that included the project purpose, project overview, public workshop
materials, general discussion & feedback, and next steps. The public workshop will be held at the Tigard
Library on April 26 at 6:00 pm. He discussed three land use concepts: focus on transit, mosaic of
neighborhoods, and active corridors. Council is scheduled to receive a briefing in September to be followed
by any necessary land use or TSP changes which take time.
10. TCDA BUILDING IMPROVEMENT GRANT DISCUSSION
Sean briefly noted some pros and cons of increasing the grant amount in both TIF Districts. Commissioners
unanimously agreed to recommend to the joint Grant Committee to raise the grant amount in the
Downtown District to $75,000 and to keep the maximum amount in the Triangle District at $50,000.
11. PROJECT UPDATES
Sean briefly reviewed the updates included with the Agenda. Preliminary planning for lighting along the
Fanno Creek Trail from Main to Hall will be obtained as part of the Nick Wilson Memorial Plaza design and
engineering. Staff will continue to discuss the property formerly occupied by Tigard Cinemas with the
property owner PacTrust.
12. LIAISON REPORTS
A. Travis attended the Hall Blvd. open house which presented different options if Tigard takes over the
jurisdiction from the state.
B. Travis noted the TDA Art Week starts May 15. The TDA mixer will occur the third Wednesday of
April at the Senet Lounge.
13. NON-AGENDA ITEMS
A. Elise noted ODOT will be repairing and repaving 99W. Joe will forward the ODOT presentation
from the last TTAC meeting which contains more information.
14. ADJOURN BUSINESS MEETING
The meeting adjourned at 8:00 pm.
Joe Patton, TCAC Meeting Secretary
Tom Murphy, Chair
TCAC 2023 Goals (unadopted)1st Quarter Accomplishments
Affordable Housing and Houselessness
•Advocate for stakeholders, including the houseless population, and learn their needs;
determine the need for additional affordable, affordable market rate, and market rate
housing; identify the opportunities and minimize constraints that exist within each
district; and refer to existing reports, studies and assessments where appropriate.
1 member attends CHART committee meetings; 2 members attended CPAH
Forum on Houselessness
•Recommend specific programs, innovations and policies to TCDA Board and staff that
directly encourage the development and preservation of affordable housing in the
downtown and Tigard Triangle.
TCAC Recommended approval of the development assistance grant for FPTV
to acquire Quality Inn for transitional housing. TCDA Board approved
•Support the City Council’s and private entities’ response to houselessness.
Equitable Business Development
•Advocate for affected stakeholders, learn about and research the needs, identify the
opportunities and constraints within each district to better support equitable business
development.
•Review and make recommendations on current parking plans for both districts with
staff. Develop a plan that accounts for growth in these districts.
April briefing
•Develop non-conventional business opportunities such as: co-ops, food cart pods,
maker spaces, business incubators, etc.
Two food carts will be located at Universal Plaza
Connectivity and Access
•Identify, prioritize, and recommend opportunities for development that improve living
and working, foster walkability, and promote equity.
•Promote ongoing efforts toward multi-modal connectivity within and between both
TIF districts.
TCAC wrote letter of support for RAISE grant for phase 1 of 72nd Ave
•Study the options for crossings that could connect the two TIF districts
•Develop wayfinding means for the public to utilize within the two TIF districts and
between the two TIF Districts
200’100’0
SCALE: 1” = 200’ - 0”
400’FEBRUARY 2023RED ROCK TRAIL ALIGNMENT STUDY: FANNO CREEK TRAIL CONNECTION to I-5/99W
OVERALL TRAIL ALIGNMENT
Sources: City of Tigard, OTAKI-52
1
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LEGEND
PEDESTRIAN BRIDGE
TRAIL ON-STREET
RED ROCK CREEK
RESTORATION TRAIL SEGMENT
PROPOSED FANNO CREEK TRAIL
TRAIL CROSSING
RAISED TRAIL
STUDY AREA
TRAIL SEGMENT
TRAIL OFF-STREET
X
A1
A3
A2
B3
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Agenda Item 6
PO Box 12546
Portland, OR 97212
Phone: (503) 459-7638
E-mail: rick@rickwilliamsconsulting.com
MEMORANDUM
TO: Sean Farrelly, City of Tigard
FROM: Rick Williams, RWC
DATE: April 26, 2023
RE: Proposal: Parking Occupancy Data Collection & Report
Find below our proposal for conducting an updated Parking Occupancy parking study and provide
assistance with presenting findings and recommendations to the Parking Subcommittee and other City
stakeholders.
BACKGROUND
The proposed parking occupancy study is intended to update the parking study
performed in September 2021. As a secondary objective, it will measure the
impact of the new plaza on the parking system for both a baseline (typical)
weekday and during a selected event.
PROJECT FRAMEWORK
• The intent here is to update the 2021 parking study RWC will work with
the City and its stakeholder committee to finalize the determination of
data collection dates and hours for the survey(s).
• RWC has budgeted for two separate survey days, with up to 10 hours of parking occupancy data
collection each day.
- One (1) weekday is assumed to represent a typical weekday. This Data from this measure
can be compared to 2021 occupancy data (the most recent Tigard downtown database).
- One (1) selected “event day,” to measure the impact of a programmed event, such as the
farmer’s market.
SCOPE OF WORK
1. Survey Preparation. Spot-checking the study inventory and developing data collection
templates.
2. Data collection will involve hourly occupancy counts for the 10-hour duration of each study day,
both on- and off-street.
a. All on-street Downtown parking measured in 2021 will be surveyed in this study (260 stalls)
using parking occupancy as the data collection method.
b. A sample of off-street parking facilities within a reasonable distance from the Universal
Plaza site will be measured. This will include the City’s downtown public parking lots and the
City Hall and Public Works building sites.
RWC Field Surveyor
Agenda Item 7
Proposal: Parking Occupancy Study
Page 2
i. RWC will coordinate with the City and its stakeholder committee to identify and
complete the selection of surveyed off-street sites. The 2021 off-street inventory of off-
street facilities will serve to inform this process.
3. RWC will summarize data findings in a technical memorandum format complete with maps,
tables, charts, and heat maps displaying the hourly occupancy findings. The memo will be
shared with the Downtown Parking steering committee and public officials interested in the
findings.
4. The consultant team will review the on-street parking inventory to evaluate potential locations
to add ADA-accessible parking stalls. We will evaluate locations based on geographic
distribution, proximity to activity areas, and the availability of and/or the need for new curb
ramps.
RWC BILLING RATES
- Rick Williams (Principal) $185/hr.
- Owen Ronchelli (Senior Associate) $165/hr.
- Pete Collins (Associate) $145/hr.
- Williams Reynolds (Associate) $145/hr.
- J. Connor Baron-Williams (Data Tech) $100/hr.
- Michael Vasbinder (Field Manager) $100/hr.
- Field Surveyor (Data Collection) $35/hr.
BUDGET
RWC proposes a not to exceed contract agreement of $12,175. This includes work to the satisfaction of
the Client for the facilitation of meetings and summarization of inputs. All work will be billed at the
hourly rates stated above. Hourly rates include travel and printing costs.
SCHEDULE
RWC will collaborate with the City to establish a reasonable schedule for materials review, meetings,
analysis, and development of a final product.
Let us know if there is more you need from us. We very much appreciate the opportunity to help with
this work.
Williams Ronchelli Collins Vasbinder J Williams Surveyors
2023 Tigard Universal Plaza On & Off-Street
Occupancy Study
Project
Lead
Senior
Associate Associate Field
Foreman
GIS/Data
Analyst
Surveyor/
Data Entry
Amount per
Deliverable
Rate $185 $165 $150 $100 $100 $35 Total Expenses Task Cost
Task 1: Survey Preparation - - - 5 2 - 7 $0 $700
Task 2: Occupancy Data Collection - weekday & weekend 0 0 22 26 0 22 70 $200 $6,870
Task 3: Technical Memorandum: Data Findings Summary 4 9 2 0 11 0 26 $0 $3,625
Task 4: ADA Parking Evaluation 1 3 0 0 3 0 7 $0 $980
Total Hours 5 12 24 31 16 22 110
Total Cost $925 $1,980 $3,600 $3,100 $1,600 $770 $200 $12,175
TCDA
TOWN CENTER DEVELOPMENT AGENCY
CITY OF TIGARD, OREGON FY 2023-24 PROPOSED BUDGET
TOWN CENTER DEVELOPMENT AGENCY BUDGET COMMITTEE
Jake Schlack, Chair Mayor Heidi Lueb Clarissa Benfield Councilor Yi-Kang Hu Timothy Cadman Councilor Jeanette Shaw Kelli Pement Councilor Jai Raj Singh Leah Voit Councilor Maureen Wolf Jim Knowlton, Alternate Youth Councilor Aishiki Nag
TOWN CENTER DEVELOPMENT AGENCY BOARD
Heidi Lueb, Chair Yi-Kang Hu Jeanette Shaw Jai Raj Singh Maureen Wolf
EXECUTIVE DIRECTOR
Steve Rymer
COMMUNITY DEVELOPMENT DIRECTOR
Kenny Asher
REDEVELOPMENT PROJECT MANAGER
Sean Farrelly
FINANCE DIRECTOR
Cindy Trimp
Prepared by the following City of Tigard Teammates: Steve Rymer, City Manager Cindy Trimp, Finance Director Emily Tritsch, Assistant City Manager Eric Kang, Assistant Finance Director Kathy Nyland, Assistant City Manager Kalena Plath, Budget Manager Steve Toler, Consultant—BakerTilly Danielle Couch, Management Analyst
Agenda Item 9
TCDA 2
FY 2023-2024 Budget Message
Town Center Development Agency Fiscal Year 2024 Budget Message Town Center Development Agency Members, Budget Committee Members, and the Tigard Community: It is my privilege to present the Fiscal Year 2023-2024 (FY 2024) proposed budget for the Town Center Development Agency (TCDA), Tigard’s tax increment financing agency. Working with stakeholders, the TCDA oversees the revitalization of the voter-approved Tigard Triangle and the City Center (downtown) Tax Increment Financing (TIF) Districts. The TCDA plays a vital role in advancing our shared vision for Tigard to become “an equitable community that is walkable, healthy, and accessible for everyone." The TCDA improves Tigard’s long-term fiscal health by bringing new businesses and housing into the TIF Districts. This development increases Tigard’s tax base over time. In turn, this enables expanded City services for all Tigard residents. The TCDA supports implementing and managing several key priorities of our Strategic Plan, including:
• Planned infrastructure projects like new streets, sidewalks, pedestrian safety projects, trails and access to public space;
• Programs that assist mixed-use development and small businesses within the TIF districts;
• Addressing the housing needs of all community members by providing development assistance for affordable housing in the TIF Districts; and,
• Increasing the number, type, and kind of local amenities for residents to access in Tigard. Guided by our Strategic Plan, City Council’s goals, Community Promise (5 Es), and our commitment to fiscal responsibility, the TCDA’s FY 2024 Proposed Budget is $8.95 million, with operations accounting for $3.22 million, debt service $1.39 million, and capital improvement projects of $4.34 million. In FY 2023, the TCDA continued to fulfill its mission by creating a safer, healthier, and more connected Tigard for everyone. Working with partners and community members, we:
• Completed construction of Universal Plaza Phase One as an inclusive community gathering spot in the heart of downtown that advances our goal of being a welcoming and inclusive city. This one-of-a-kind public space is a showpiece for our inclusive vision of revitalizing downtown;
• Advanced affordable housing through two development assistance awards in the Tigard Triangle, and facilitating the Alongside Senior Housing project (scheduled to start leasing in summer 2023) in the City Center;
• Advanced market rate mixed use development with the groundbreaking of the AVA mixed use project on Main Street and the opening of the Overland mixed-use project in the Triangle;
• Commenced construction of the Main Street Green Street Phase 2 project, which was partially funded by Tax Increment Financing. This will improve mobility and connectivity for people walking and rolling downtown;
TCDA 3
FY 2023-2024 Budget Message
• Tigard Triangle Business Opportunity Program made its initial grants to support more equitable small business development; and,
• Assisted with reducing houselessness by providing $1 million to Family Promise of Tualatin Valley for the Quality Inn purchase. This new site will provide housing stability for 70 families and households with medically fragile adults. The investments included in the FY 2024 Proposed Budget ensure that the TCDA will continue making progress on key community priorities, including:
• Continue the design and engineering of the Nick Wilson Memorial Plaza;
• Making progress on acquiring land for a Tigard Triangle park;
• Continuing the city’s commitment to housing for all. On behalf of the team advancing the TCDA’s vision, I am grateful for the time, commitment, and guidance of the volunteers who serve on the Town Center Advisory Commission (TCAC). In 2022-23, TCAC members took on additional work, including organizing a well-attended and informative interactive workshop on Downtown business recruitment. Findings from the workshop were presented to the TCDA, along with recommendations. The FY 2024 TCDA budget request reflects recommendations of the TCAC:
• Increased building improvement grant funding from $50,000 to $75,000 to help attract new eating and drinking establishments to Downtown.
• Expand our professional team’s capacity by adding our second TIF-funded position. The new teammate will manage programs and projects in the two TIF Districts, including grant programs and the design of new public spaces and streets.
• Continue prioritizing development assistance for affordable housing.
• Funding to build missing pedestrian infrastructure through partnerships in the Triangle.
• Budgeted $75,000 to complete a downtown wayfinding plan. I want to acknowledge the hard work, commitment, and collaboration of Team Tigard in developing this plan. I want to specifically thank Sean Farrelly, Kenny Asher, Eric Kang, Kalena Plath, Emily Tritsch, Tina Escalera, Joe Patton, Judi Martin, Dave Roth, Martin McKnight, Laura Barrie, Courtney Furman, and Toni Riccardi. We look forward to continued progress in the coming year on advancing the TCDA’s mission of creating a safer, healthier, and more connected Tigard for everyone. Respectfully, Steve Rymer, Executive Director Town Center Development Agency
TCDA 4
City Center Urban Renewal District Map
TCDA 5
City Center Urban Renewal Area Facts & 2024 Project List
District Formation Date May 2006
District Size (acres) 228.96
District Tax Lot Area (acres) 185.60
District Right of Way Area (acres) 43.36
Base Assessed Value $117,552,911
Assessed Value (projected FY24) $191,206,843
Annual Taxes Levied (projected FY24) $848,511
Maximum Debt Limit $42,800,000
Debt Issued (2006-2023) $12,502,980
Remaining Debt Limit (2023) $30,297,020
Principal Debt Outstanding (2023) $6,862,132
City Center Urban Renewal Area FY2023-2024 Project List
City Center TIF Projects City Center Plan Project Proposed FY23-24 Budget Purpose/Benefit
Universal Plaza E.2 Public Spaces: Plazas $85,000 Construction of a large public gathering space. Project close-out
Nick Wilson Memorial Plaza/Fanno Creek Trail Lighting E.2 Public Spaces: Plazas $300,000 Design and engineering of public space/Fanno Creek Trail connection adjacent to brewpub. CIP #97027
Total City Center Capital Improvement Projects $385,000
City Center TIF Programs City Center Plan Project Proposed FY23-24 Budget Purpose/Benefit
Development Opportunity Studies/Development Advising
G.1. Planning and Development Assistance: Rehabilitation/Redev. Grant/Loan Program
$30,000
Planning/analysis for new housing and mixed use redevelopment in the Downtown and development advising to the Agency
Development Assistance
G.1. Planning and Development Assistance: Rehabilitation/Redev. Grant/Loan Program
$400,000 Development incentive for mixed use or affordable projects that demonstrate a financial need
Building Improvement Grants
G.1. Planning and Development Assistance: Rehabilitation/Redev. Grant/Loan Program
$200,000
Matching grants to property and business owners for façade and tenant improvements have strengthened participating businesses and improved downtown’s position as a walkable commercial district.
Downtown Wayfinding B. Streetscape Improvements $75,000 Develop a master wayfinding signage plan
Administration E. Plan Administration $180,000 Administrative costs associated with implementation of Plan
Total City Center TIF $885,000
Total City Center TIF Expenditures $1,270,000
TCDA 6
City Center Urban Renewal Capital Improvement Fund
Description FY 2021 FY 2022 2023 Revised 2024 Proposed Proposed vs FY 23
RESOURCES
40000 - Beginning Fund Balance 4,132,306 3,880,320 3,895,715 59,583 -98.50%
Total Beginning Fund Balance 4,132,306 3,880,320 3,895,715 59,583 -98.50%
44501 - Intergovernmental Revenue 0 0 1,818,000 0 -100.00%
Total Intergovernmental 0 0 1,818,000 0 -100.00%
47000 - Interest Earnings 7,519 (43,346) 10,868 69 -99.40%
Total Interest Earnings 7,519 (43,346) 10,868 69 -99.40%
48001 - Recovered Expenditures 4 10 0 0 0.00%
48003 - Asset Sale Proceeds 389,794 0 0 0 0.00%
Total Miscellaneous 389,798 10 0 0 0.00%
49001 - Debt Proceeds 0 1,019,700 900,000 0 -100.00%
Total Other Financing Sources 0 1,019,700 900,000 0 -100.00%
49425 - Transfer In from Parks SDC Fund 464,279 338,789 0 0 0.00%
49930 - Transfer In from Urban Renewal DSF 0 0 799,500 1,270,000 58.90%
Total Transfers In 464,279 338,789 799,500 1,270,000 58.90%
Total Resources 4,993,902 5,195,473 7,424,083 1,329,652 -82.10%
REQUIREMENTS
Program Expenditures
TCDA - City Center 129,944 68,819 300,000 705,000 135.00%
Total Program Expenditures 129,944 68,819 300,000 705,000 135.00%
Total Work in Progress 901,737 1,140,939 6,970,000 385,000 -94.50%
Total Transfers Out 81,900 90,000 94,500 180,000 90.50%
Total Budget 1,113,582 1,299,758 7,364,500 1,270,000 -82.70%
Reserve for Future Expense 3,880,320 3,895,715 59,583 59,652 10.00%
Total Requirements 4,993,902 5,195,473 7,424,083 1,329,652 -82.10%
TCDA 7
City Center Urban Renewal Debt Service Fund
Description FY 2021 FY 2022 2023 Revised 2024 Proposed Proposed vs FY 23
RESOURCES
40000 - Beginning Fund Balance 1,085,936 1,347,913 1,596,211 1,481,989 -7.20%
Total Beginning Fund Balance 1,085,936 1,347,913 1,596,211 1,481,989 -7.20%
40100 - Current Property Taxes 659,406 722,024 773,146 848,511 9.80%
40101 - Prior Year Property Taxes 4,389 6,686 0 0 0.00%
Total Taxes 663,795 728,710 773,146 848,511 9.80%
47000 - Interest Earnings 8,447 (14,881) 2,132 4,035 89.30%
Total Interest Earnings 8,447 (14,881) 2,132 4,035 89.30%
48001 - Recovered Expenditures (1) 0 0 0 0.00%
Total Miscellaneous (1) 0 0 0 0.00%
Total Resources 1,758,177 2,061,742 2,371,489 2,334,535 -1.56%
REQUIREMENTS
Total Debt Service 410,264 465,531 540,000 574,750 6.40%
Total Transfers Out 0 0 349,500 1,270,000 263.40%
Total Budget 410,264 465,531 889,500 1,844,750 107.40%
Reserve for Future Expense 1,347,913 1,596,211 1,481,989 489,785 -67.00%
Total Requirements 1,758,177 2,061,742 2,371,489 2,334,535 -1.56%
TCDA 8
Tigard Triangle Urban Renewal District Map
TCDA 9
Tigard Triangle Urban Renewal Area Facts & 2024 Project List
District Formation Date May 2017
District Size (acres) 547.90
District Tax Lot Area (acres) 383.04
District Right of Way Area (acres) 164.86
Base Assessed Value $424,744,405
Assessed Value (projected FY24) $556,323,000
Annual Taxes Levied (projected FY24) $1,574,893
Maximum Debt Limit $188,000,000
Debt Issued (2017-2023) $8,880,569
Remaining Debt Limit (2023) $179,119,431
Principal Debt Outstanding (2023) $7,682,869
Tigard Triangle Urban Renewal Area FY 2023-2024 Project List
Triangle Capital Improvement Projects Triangle Plan Project Proposed FY23-24 Budget Purpose/Benefit
Park Acquisitions C. Public Spaces, Facilities, and Installations $2,958,000
Acquiring property for parks, such as splash pads, nature play areas, skate parks, pocket parks, linear parks, and neighborhood parks; greenways, such as along Red Rock Creek. This amount will be transferred to COT Parks Capital Fund. Total CIP amount is $3.8M including $0.8M from Park SDCs. CIP 97028.
Infrastructure opportunity fund A. Transportation $1,000,000 Fund opportunities to build pedestrian/street infrastructure though public/private partnerships
Total Triangle Capital $3,958,000
Triangle TIF Programs Triangle Plan Project Proposed FY23-24 Budget Purpose/Benefit
Affordable Housing Development Fund
D. Re/Development Assistance and Partnerships $1,500,000
Fund to contribute to the area’s diversity and vitality by providing pre-development and assistance to affordable housing projects.
Business Opportunity Fund D. Re/Development Assistance and Partnerships $200,000
Fund to contribute to the Area’s diversity and vitality by providing assistance to new and existing businesses and housing developments, including façade and improvement grants
Development Assistance D. Re/Development Assistance and Partnerships $650,000 Previously approved development assistance for the Hampton Street Mixed Use Project.
Administration E. Plan Administration $180,000 Administrative costs associated with implementation of Plan
Total Triangle TIF $2,530,000
Total Triangle TIF Expenditures $6,488,000
TCDA 10
Tigard Triangle Urban Renewal Capital Improvement Fund
Description FY 2021 FY 2022 2023 Revised 2024 Proposed Proposed vs FY 23
RESOURCES
40000 - Beginning Fund Balance 0 106,541 8,123,122 6,623,122 -18.50%
Total Beginning Fund Balance 0 106,541 8,123,122 6,623,122 -18.50%
44501 - Intergovernmental Revenue 230,428 0 0 0 0.00%
Total Intergovernmental 230,428 0 0 0 0.00%
47000 - Interest Earnings 0 (78,870) 0 0 0.00%
Total Interest Earnings 0 (78,870) 0 0 0.00%
48001 - Recovered Expenditures 0 16 0 0 0.00%
Total Miscellaneous 0 16 0 0 0.00%
49001 - Debt Proceeds 0 8,292,700 0 0 0.00%
Total Other Financing Sources 0 8,292,700 0 0 0.00%
49935 - Transfer In from Tigard Triangle DSF 0 0 1,719,500 630,000 -63.40%
Total Transfers In 0 0 1,719,500 630,000 -63.40%
Total Resources 230,428 8,320,387 9,842,622 7,253,122 -26.30%
REQUIREMENTS
Program Expenditures
TCDA - Tigard Triangle 41,987 107,265 2,125,000 2,350,000 10.60%
Total Program Expenditures 41,987 107,265 2,125,000 2,350,000 10.60%
Total Work in Progress 0 0 1,000,000 1,000,000 0.00%
Total Transfers Out 81,900 90,000 3,052,500 3,138,000 2.80%
Total Budget 123,887 197,265 6,177,500 3,530,000 -42.80%
Carryforward from Previous Year (2,958,000) 2,958,000 -200.00%
Reserve for Future Expense 106,541 8,123,122 6,623,122 765,122 -88.50%
Total Requirements 230,428 8,320,387 9,842,622 7,253,122 -26.30%
TCDA 11
Tigard Triangle Urban Renewal Debt Service Fund
Description FY 2021 FY 2022 2023 Revised 2024 Proposed Proposed vs FY 23
RESOURCES
40000 - Beginning Fund Balance 105,962 850,024 1,382,728 388,194 -71.90%
Total Beginning Fund Balance 105,962 850,024 1,382,728 388,194 -71.90%
40100 - Current Property Taxes 740,844 1,033,544 1,421,550 1,574,893 10.80%
40101 - Prior Year Property Taxes 1,858 3,890 0 0 0.00%
Total Taxes 742,702 1,037,434 1,421,550 1,574,893 10.80%
47000 - Interest Earnings 6,400 (15,770) 3,416 5,317 55.70%
Total Interest Earnings 6,400 (15,770) 3,416 5,317 55.70%
Total Resources 855,064 1,871,688 2,807,694 1,968,404 -29.90%
REQUIREMENTS
Total Debt Service 5,040 488,960 700,000 745,000 6.40%
Total Transfers Out 0 0 1,719,500 630,000 -63.40%
Total Budget 5,040 488,960 2,419,500 1,375,000 -43.20%
Reserve for Future Expense 850,024 1,382,728 388,194 593,404 52.90%
Total Requirements 855,064 1,871,688 2,807,694 1,968,404 -29.90%
5/2/23 TIF District Project Updates
City Center TIF District
1. Universal Plaza
• Finishing touches over next few weeks
• Farmers Market opens at UP on May 7
2. Main Street Green Street Phase 2
• Completion in June
3. Alongside Senior Apartments
• Construction on schedule for completion this summer
• Tour of under construction building- May 18th at 5pm for Council, staff and TCAC
4. Main Street at Fanno project
• Foundation complete and construction continues
• TCDA Board consideration on May 23
5. Building Improvement Grants
• One new grant awarded to Tigard Taphouse for kitchen expansion
• Another grant application received
6. Nick Wilson Memorial Plaza (Fanno Creek Overlook)
• Survey, wetlands, and arborist reports received. Geotech study underway
7. City Facilities Consolidation (only parking structure is TIF funded)
• No update
8. Downtown Reimagined
• Public Workshop held on April 26. 30 plus attendees
• Alternatives will be refined in response to feedback
9. Downtown Parking Strategy
• Council update on May 16
Agenda Item 10
Tigard Triangle URD
1. Family Promise
• Will close on property in June
• Development Assistance agreement with TCDA in process
• Some residents have moved in
• FPTV is meeting with the property’s neighbors
2. Red Rock Creek Trail Planning
• Trail alignment study briefing in May
3. Parks
• Agency investigating additional properties
4. Opportunity Fund
• Grant recipient El Jefe opening this month
5. 72nd Avenue
• Will hear about $15.8M application decision on Federal RAISE grant by end
of June
6. DIG Hampton Street Project
• Construction underway
7. Mixed Use Path over Highway 217
• No Update
8. REACH/Dartmouth Crossing North
• Construction to start in June
• Clinton sidewalk will be part of project, construction in 2024
9. Tigard Cinemas Property
• Staff met with property owners PacTrust
• They are evaluating their options